Rise In The Number Of Road Accidents Worldwide Is The Major Factor Fostering The Demand Of Orthopedics Devices

The global orthopedics devices market is expected to display higher growth rate in the upcoming years. Rapid surge in the market is credited to the higher occurrence of orthopedic conditions such as degenerative bone disease and growing geriatric population across the globe. Rise in the number of road accidents worldwide is the major factor fostering the demand of orthopedics devices over the coming years. Globally, orthopedics devices market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of orthopedics devices.

In addition, high prevalence of musculoskeletal conditions that can lead to obesity and sedentary lifestyle is expected to drive the growth of orthopedics device market over the forecast period. Geriatric population is more prone towards orthopedic conditions such as degenerative bone disease, thereby driving demand for orthopedics devices in the market. The recent technological advancement in the healthcare sector and development of novel products such as aesthetically appealing miniature devices coupled with growing patient pool in both developed and developing economies across the globe are expected to drive market growth in the upcoming years.

Increasing number of collaborative research initiatives and new product developments undertaken by leading industry participants is predicted to offer lucrative growth opportunities in the near future. Development of advanced techniques in degenerative bone disease diagnostics is forecasted to steer industry expansion in the upcoming years. Favorable government policies and rise in the number of promotional activities by private players are expected to drive market growth over the forecast period.

The orthopedic devices market is broadly categorized into two major segments based on the product type such as accessories and surgical devices. Surgical devices segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of surgical devices segment is attributed to the increasing demand for guide tubes, implant holder and custom clamps.

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The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in pharmaceutical industry, surge in number of research & development activities and existence of well-established healthcare infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.

Asia-Pacific region is estimated to hold a major share in the orthopedic devices market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with improved healthcare infrastructure in the region, increasing penetration of medical facilities into rural market, growing awareness among general population regrading numerous benefits of these devices, increasing disposable income, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the orthopedics devices market are Medtronic plc, Stryker Corp., Zimmer-Biomet Holdings, Inc., DePuy Synthes Co., Smith and Nephew plc, Aesculap Implant Systems, LLC, Conmed Corp., Donjoy, Inc., and NuVasive, Inc.

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